What is the balance of the account for equity investment

Assignment Help Accounting Basics
Reference no: EM131642778

Question - At the beginning of the year, Flavo Inc. purchased 10,000 shares of Tastey Company common stock for $80 per share. Tastey Company, which has issued 40,000 shares of stock, earned net income of $800,000 for the year and declared a cash dividend of $8 per share to stockholders. At the end of the year, Tastey Company stock sells for $85 per share. When Flavo Inc. prepares its balance sheet at the end of the year, what is the balance of the account for Equity Investment---Tastey Company?

Reference no: EM131642778

Questions Cloud

How would you record the cash dividends : How would you record the Cash Dividends by Slender Corp. on the journal entry
Discuss big banks ability to claim input tax credits : HI3042 Taxation Law - Calculate the net income for the partnership for the income year and Determine Angelos foreign tax offset
Alan runs an economic consulting firm : Alan runs an economic consulting firm. what would happen to the wage differential between men and women?
The most common form of secured credit : The most common form of secured credit is:
What is the balance of the account for equity investment : When Flavo Inc. prepares its balance sheet at the end of the year, what is the balance of the account for Equity Investment---Tastey Company
How would you record correctly the cash dividends : Gourmet Donuts owns 800 shares of Coffee Express. How would you record correctly the cash dividends received by Gourmet Donuts
Prepare the journal entries required to record transactions : The transactions of Lightning Package Delivery Company for March 2012 follow: Prepare the journal entries required to record these transactions
Trends is feeding the growth of entrepreneurial activity : Which of the following trends is feeding the growth of entrepreneurial activity?
The process of influencing and inspiring others to work : The process of influencing and inspiring others to work to achieve a common goal and then giving them the power and freedom to achieve it is called:

Reviews

Write a Review

Accounting Basics Questions & Answers

  Budgeted volume and standard volume

Printers Inc. manufactures and sells a mid-volume color printer (MC) and a high-volume color printer (HC). Each MC requires 100 direct labor hours to manufacture, and each HC requires 150 direct labor hours.

  Corporation as a contribution to capital

Mary and Jane, unrelated taxpayers, hold Gray Corporation's stock equally. One year before the complete liquidation of Gray, Mary transfers land (basis of $600,000, fair market value of $180,000) to Gray Corporation as a contribution to capital.

  Research paper on ceo pay packages

Research paper on CEO Pay packages with John Deere and Caterpillar. Below is the information needed for the assignment. Any assistance would be appreciated.

  Delta inc is considering the purchase of a new machine

delta inc. is considering the purchase of a new machine which is expected to increase sales by 10000 in addition to

  Modos company has deposited 4170 in checks received from

modos company has deposited 4170 in checks received from customers. it has written 1520 in checks to its suppliers. the

  Ethical aspects of symingtons action

How should Symington have recorded this transaction? Anddiscuss ethical aspects of Symington's action.

  Nic saybin enterprises accounting department collects all

nic saybin enterprises accounting department collects all pertinent monthly operating data. selected data is presented

  Upon studying its statement of cash flows you note that

upon studying its statement of cash flows you note that over the last three years a firm has consistently reported

  Report a liability for that in addition to the note

In the March 2014 meeting of Valleck Corporation's board of directors, a question arose as to the way a possible obligation should be disclosed

  At the beginning of the year the firm purchased new

1.the beginning balance of ppampe is 50000 in 2014 and the beginning balance is shown as 80000 in 2015 .2. the firm

  Journalize the entries for april 1 and 7.

On April 1, 10,000 shares of $5 par common stock were issued at $22, and on April 7, 5,000 shares of $50 par preferred stock were issued at $104.

  How much of its capital did ltcm lose

The U.S. Government Accountability Office (GAO) does research to support congressional decision making. After the Long-Term Capital Management (LTCM) crisis.

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd